ow much money will Adrienne have saved in 24 months? 11 months?
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Below is a savings plan for Adrienne. Use this table to answer the questions below.
# of Months Saving Account Balance
2 $85
6 $105
9 $120
14 $145
18 $165
13. How much money will Adrienne have saved in 24 months? 11 months?
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- Refer to the present value table information on the previous page. If Kathleen put 3,000 in a savings account today, what amount of cash will be available 2 years from today? a. 3,000 0.857 b. 3,000 0.857 2 3,000 c. 4,000 0.681 0926 d. cannot be determined from the information givenJohn opens a savings account and decides to deposit $10 each month. Let x represent the number of months that he has been saving, and y represent the total amount of money saved. What is the algebraic equation for John's saving plan? How much money will John have saved in 14 months? In 6 months? Show your work and explain. In how many months will John have saved $100? $175? Show your work and explain. 10. What is the rate of change? How does knowing the rate of change help you in answering questions in this problem?Starting today, Jamie deposits $100 in a savings account at the beginning of each month. If the account earns 6 percent annually, what will the account value be after 6 years? a) 8,640.89 b) $8,684.09 c) $739.38 d) $697.53 Hide question 33 feedback Correct!
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- Your father helped you start saving $25 a month beginning on your fifth birthday. He always made you deposit the money into your savings account on the first day of each month just to "start the month out right." Today completes your 15th year of saving and you now have $6,528.91 in this account. What is the rate of return on your savings? 4.67% O 5.30% 5.87% 4.98% O 6.12%show working using both a financial calculator and spreadsheet. after, show answer rounded off to the nearest dollar. Sam is in discussion with you about saving for his retirement. You are to advise him on how much he should deposit annually to meet his retirement needs. Assume that he will deposit a fixed annual amount for the next 20 years into a retirement savings account, starting one year from now. Sam has a son who will be attending college and plans to make 5 withdrawals (starting one year after making his final deposit into the retirement account) of $35,000 each to pay for his annual tuition for the following 5 years. Commercial Banks will be paying 6 percent on such retirement accounts for the next 25 years. Kindly advise Sam on how much he should place in the account annually to cover his retirement needs.Suppose you want to have $400,000 for retirement in 25 years. Your account earns 5% interest. Feel free to use the Online Basic Financial Calculator a) How much would you need to deposit in the account each month? es b) How much interest will you earn? $
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